A quick update for ProDave and anyone that may encounter the issue:
I'd emailed HES (the company that sells the replacement timer) to ask about the ETA on delivery, and a nice man called Tony emailed back and said when it arrives he's happy to talk me through installation and basic troubleshooting provided I was happy to use a multimeter.
When it arrived, he rang me that evening and together ran through tests. It turns out that the feed to the thermostat was dead, which was weird. After a bit of thinking, he asked me to take the mainboard out (with very clear instructions I should add) and he asked me to look at a specific joint, and indeed it had blown!
As luck would have it, the wife can do basic soldering so with a drop of solder it was all fixed, reinstalled, and now working perfectly without silly ticking noises. All this just in time for the cold weather.
I should say that I'm very impressed with the service HES provided. The man could have very easily sent me an engineer out for and easy £85, instead he was trying really hard to try to fix it over the phone, and he did. I can't fault their service and customer care.